Which of the following can be classified as private law?
A) administrative law
B) property law
C) constitutional law
D) criminal law
B
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How may an employee embezzle funds by issuing an unauthorized sales credit memo if the appropriate segregation of functions and authorization controls were not in place?
A company estimates that warranty expense will be 5% of sales. The company's sales for the current period are $168,000. The current period's entry to record the warranty expense is:
A. Debit Estimated Warranty Liability $8400 credit Warranty Expense $8400. B. Debit Warranty Expense $8400 credit Sales $8400. C. Debit Estimated Warranty Liability $8400 credit Cash $8400. D. Debit Warranty Expense $8400 credit Estimated Warranty Liability $8400. E. No entry is recorded until the items are returned for warranty repairs.
The crime of bribery occurs when the bribe is offered
a. True b. False Indicate whether the statement is true or false
A company had a beginning balance in retained earnings of $430,000. It had net income of $60,000 and paid out cash dividends of $56,250 in the current period. The ending balance in retained earnings equals:
A. $490,000. B. $426,250. C. $116,250. D. $546,250. E. $433,750.